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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities:      
Net income (loss) $ 343 $ 15 $ (2,728)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation of property and equipment, including internal-use software and website development 704 715 739
Amortization of stock-based compensation 374 418 205
Amortization of intangible assets 88 99 154
Impairment of goodwill, intangible and other long-term assets 81 20 974
Deferred income taxes 70 (145) (488)
Foreign exchange loss on cash, restricted cash and short-term investments, net 128 105 2
Realized (gain) loss on foreign currency forwards, net 78 16 (80)
Loss on minority equity investments, net 345 29 142
(Gain) loss on debt extinguishment, net (49) 280 0
(Gain) loss on sale of business, net (6) (456) 13
Provision for credit losses and other, net 23 32 135
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions:      
Accounts receivable (838) (721) 1,781
Prepaid expenses and other assets 55 (224) (188)
Accounts payable, merchant 375 777 (1,320)
Accounts payable, other, accrued expenses and other liabilities 196 138 (400)
Tax payable/receivable, net 11 10 (57)
Deferred merchant bookings 1,464 2,642 (2,576)
Deferred revenue (2) (2) (142)
Net cash provided by (used in) operating activities 3,440 3,748 (3,834)
Investing activities:      
Capital expenditures, including internal-use software and website development (662) (673) (797)
Purchases of investments (60) (201) (685)
Sales and maturities of investments 205 23 1,161
Cash and restricted cash divested from sale of business, net of proceeds 4 (60) (21)
Proceeds from initial exchange of cross-currency interest rate swaps 337 0 0
Payments for initial exchange of cross-currency interest rate swaps (337) 0 0
Other, net (67) (20) 79
Net cash used in investing activities (580) (931) (263)
Financing activities:      
Revolving credit facility borrowings 0 0 2,672
Revolving credit facility repayments 0 0 (2,672)
Proceeds from issuance of long-term debt, net of issuance costs 0 1,964 3,945
Payment of long-term debt (2,141) (1,706) (750)
Debt extinguishment costs (22) (258) 0
Net proceeds from issuance of preferred stock and warrants 0 0 1,132
Redemption of preferred stock 0 (1,236) 0
Purchases of treasury stock (607) (165) (425)
Payment of dividends to common and preferred stockholders 0 (67) (123)
Proceeds from exercise of equity awards and employee stock purchase plan 131 503 319
Other, net 15 (8) (21)
Net cash provided by (used in) financing activities (2,624) (973) 4,077
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents (190) (177) 61
Net increase in cash, cash equivalents and restricted cash and cash equivalents 46 1,667 41
Cash, cash equivalents and restricted cash and cash equivalents at beginning of year 5,805 4,138 4,097
Cash, cash equivalents and restricted cash and cash equivalents at end of year 5,851 5,805 4,138
Supplemental cash flow information      
Cash paid for interest 291 342 313
Income tax payments, net $ 102 $ 74 $ 108